Trade of the week: short soybeans
Even though soybean prices have been rising quickly over the past few days they are approaching a key resistance area where they might falter before resuming their longer-term down trend.
We would thus like to go short soybeans with a stop loss above the key resistance zone at 1,328 and a downside target at 1,150.
(AI Video Summary)
Previous Dow Jones and DAX 40 trading outcomes
Today's "Trade of the week" focuses on continuing bullish trends in both the Dow Jones and the DAX 40, with recommendations to adjust stop losses for a risk-free position while anticipating further gains.
This week's trading opportunity
This week's trading opportunity spotlights soybean futures, contrasting with equities by proposing a short strategy. The recommendation leverages the longer-term downward trend against recent resistance levels, setting a stop loss at 1,328 with a downside target of 1,150, illustrating a tactical pivot to capitalise on uncorrelated market movements.
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